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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (6318)	3/16/1999 11:44:00 AM
From: Daniel Chisholm	Read Replies (1) \| Respond to of 78596

Re: Drywall, I read that article yesterday and it really twigged, since I had read an annual report of Republic Group (NYSE:RGC) just last month. Of the 20 or 30 annual reports I had in the box from Barron's, it was one of only two or three that I identified as "set aside for further study". Just from memory, business seemed simple understandable solid and well run, ROE seemed good and perhaps sustainable. As I said, it was put in the "look into this" pile. I was surprised that the WSJ article didn't mention them, perhaps they're too small? (mkt. cap $170M according to Yahoo! today). Haven't compared them to USG, so no comment on relative merits. - Daniel

To: Bob Rudd who wrote (6318)	3/16/1999 12:34:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 78596

USG - Two words are associated with USG in the minds of investors. "Asbestos" and "Bankruptcy". The company has a colorful past to say the least. Don't know to what extent these are still issues, but the economics in the WSJ article yesterday look a lot like the airline industry in 1997. Rising prices, everything going perfect, but the P/E multiples never got above 8. This one is probably worth some work. Thanks for reminding me to reread that Journal article. JJC